Product Manager
What is a Product Manager?
A product manager is responsible for guiding the development, strategy, and success of a product by balancing market demands, customer needs, and business goals. They conduct research, prioritize features, and collaborate with cross-functional teams to ensure smooth development and successful product launches.
The Basic Idea
Have you ever come across a new app, gadget, or tool and thought, “Wow, I didn’t even realize I needed this until now?” Often, the development of a successful new product that fills a gap in the market is thanks to a stellar product manager. On a professional team, the product manager (PM) is responsible for guiding a product’s development, strategy, and success, all while balancing the market’s demands, customer needs, and the goals of the business.
Defining The Goals
But what does a product manager actually do? To start, a good product manager will first define the product vision and strategy. They identify market opportunities, set long-term goals, and ensure that the product aligns with the company's strategic objectives. Product managers conduct extensive research to understand customer needs, market trends, and competitive landscapes. This involves gathering feedback from users, analyzing market data, and staying informed about industry developments.
Connecting the Product and Stakeholders
In addition to collecting data from customers on the product and its pain points, product managers will work closely with a variety of team members, including engineers, designers, marketers, and sales teams. Product managers prioritize features, manage the product backlog, and ensure the development process runs smoothly. They are the primary point of contact between different departments and stakeholders, communicating the product vision and ensuring alignment across the organization.
Executing Project Launch
Finally, product managers are responsible for planning and executing product launches, working with marketing and sales teams to develop go-to-market strategies. They ensure the product reaches the target audience and has the desired impact on the market. After the product is launched, product managers monitor its performance using key metrics and feedback, analyzing the data to identify areas for improvement and work on iterating the product to enhance user satisfaction and achieve business objectives.
“Your job as a product manager is not to define the ultimate product. It’s to define the smallest possible product that will meet your goals.”
– Marty Cagan, Inspired: How To Create Products Customers Love
About the Author
Annika Steele
Annika completed her Masters at the London School of Economics in an interdisciplinary program combining behavioral science, behavioral economics, social psychology, and sustainability. Professionally, she’s applied data-driven insights in project management, consulting, data analytics, and policy proposal. Passionate about the power of psychology to influence an array of social systems, her research has looked at reproductive health, animal welfare, and perfectionism in female distance runners.
